More than 100 landowners in Nasomo, Vatukoula received $61,650 in royalty payout from the Fijian Government today.
The 8th payout is the result of the gold and silver mined from beneath Nasomo land for the period March 2020 to May 2020 distributed amongst 123 Nasomo Landowners Trust members.
Officiating at the event in Nasomo, Vatukoula, Minister for Lands and Mineral Resources Hon. Jone Usamate highlighted that from 2018 to date, a total mineral royalty fair share of approximately $6.5m has been distributed to landowners and landowning units of which approximately $522,000 was paid to the Nasomo Landowners Trust.
“These royalties are earned predominantly from bauxite, gold and silver whereby approximately $1.6M retained by the State. Having said that, I wish to thank the Vatukoula Gold Mines Limited for its commitment to the future of the Vatukoula mine,” Minister Usamate said.
“The government has moved swiftly with great wisdom in encountering the loss in economy, loss of employment and its’ ripple effects by redirecting new ways of norms that are reflected in the Government Budget of 2020 – 2021.”
The Minister has also called for cooperation among stakeholders and landowners as it is important in the success of the mining industry.
The royalty payout is aligned to Section 5 of the Fair Share of Mineral Royalties Act 2018 which states that 80% of mineral royalties be given to landowning units or customary fishing rights holders and 20% retained by the State.